Finance and investment "the key" to climate change targets

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Climate Change affects Tajikistan mountain communities: In July 2015, the abnormal rise of temperature caused glacier melting and intense mudflows and floods in Barsem village, resulting in the entire village being flooded. Photo: OCHA/M. Sadvakassova

Finance and investment "hold the key" to achieving low-emissions economies and "resilient societies" according to the UN chief Ban Ki-moon.

The Secretary-General's speech at the COP22 conference on climate change, in Marrakesh, Morocco, opened a High Level Ministerial Dialogue on the importance of scaling-up finance to meet the challenges of keeping temperatures from rising above two degrees Celsius.

Matthew Wells has more.

In a speech delivered by his Special Advisor on climate change, Mr Ban stated that the whole 2030 Agenda for Sustainable Development with its 17 goals, provided "a masterplan to transform the global economy, bring new opportunities to billions…and create a healthier planet." 

He noted that developing countries in signing the Paris Agreement, had collectively agreed to mobilize 100 billion dollars per year, to support climate action by developing countries. 

"This goal is within reach, if we stay focussed" said Mr Ban, but the adverse impacts of climate change were likely to get more "pervasive and severe" necessitating extra help for the vulnerable. 

Given the decades-long battle against global warming that lay ahead, he said sound finance was central to building resilience, as well as climate risk insurance. 

"When we align investments and policies to achieve a low-emissions, climate resilient future" said the Secretary-General, "we open the way to a safer, healthier and more sustainable world for generations to come." 

Matthew Wells, United Nations. 

Duration: 59″

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